The First Phase in the Supply Chain Is ___________

question 28

Multiple Choice

The first phase in the supply chain is ___________.

• A)procuring raw materials
• B)delivering goods to customers
• C)processing of raw materials into goods
• D)reducing costs of manufacturing processes

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Definitions:

Presentment Warranties

Legal assurances given when a negotiable instrument (like a check) is presented for payment, concerning the authenticity of the document and the rights of the presenter.

Drawer Is Unauthorized

A statement indicating that the person who has made or drawn a cheque (the drawer) did not have the authority to do so, potentially rendering the cheque invalid.

Unaccepted Draft

A written order to pay a certain amount that has not been accepted or honored by the party it is drawn upon.

Transfer Warranty

Guarantees made by the seller regarding the ownership and quality of property being sold, assuring it is free of claims or liens.